Farmers renting land across Canada experienced an average rent increase of 2.55 per cent in 2022, according to Farm Credit Canada.
Rate of increase varied by province and within each province.
Prince Edward Island led the increases at 4.35 per cent.
Number two was Saskatchewan with an average increase of 3.1 per cent. Rental increases within the province ranged from 1.45 per cent for lighter soil land to 5.5 per cent for heavier soil.
Third highest rent increase was Alberta with an average 2.6 per cent, varying from 1.2 per cent to 5.4 per cent
Manitoba rent increased an average 2.4 per cent with a low of 1.2 per cent to a high of 4.95 per cent.
The rent-to-price ratio is determined by dividing the cash rental rate per acre by the cultivated acres and value per acre
As a proportion of crop revenue Saskatchewan rent averaged 14 per cent; Alberta ran at 18.7 per cent; and Manitoba was 14.7 per cent.
About 40 per cent of Canadian crop land is rented.
Ron Walter can be reached at ronjoy@sasktel.net
